Fundamental Requirement To Setup A Singapore Company

By Author: Daniel Yio
Total Articles: 6
Comment this article

Society in Singapore, or better known as the company most European countries and the United States have dealt with the kind of business structure as a legal person separate from its directors and shareholders. And because of this arrangement, directors and shareholders to enjoy "limited liability" clearly exceeds the role of debt and the financial loss of their business.

The legal definition of "limited liability" protection of personal data worth of savings, houses and cars are the shareholders of financial losses and debts of their business.

There are two types Singapore company: limited liability company which have a maximum of 50 shareholders, who may be natural or legal person and the company may be more than 50 shareholders to join.

As the name suggests, is a company authorized to deposit money to trade and investment in the stock market. On the other hand, this is not a joint stock company whose shareholders can only raise money for themselves or for an application for a loan from the bank.

Although there are borders on raising funds,limited company is considered advantageous in terms of tax ...
... incentives and exemptions offered by the government. Among the accounting and corporate law Regulatory Authority (Acra), this entity is subject to "Zero Tax", and 50 per cent tax exemption for the first S $ 100.00 and S $ 200,000 of income, or within three years after surgery.

But to get these incentives, a private company should limited practical control and management of local, and it would be more than 20 shareholders who are individuals and companies.

To Start a company in Singapore these are the AsiaBiz essential requirements:

1. Send name of the company Registrar of Companies (ROC). It must be unique, not conflict the trademark of other companies, and makes no obscenity.
2. Opening a bank account for the company.
3. File memorandum and articles of association ROC, who intend to take, and corporate charter, which follows the internal management of the company should explain.
4. Follow the requirements stated in Singapore Companies Act regarding the appointment of at least one resident director, a shareholder and a qualified secretary. This law also requires that the registration of locally based office address.
(Note: Singaporean citizen, permanent resident or residents in employment pass or must be a resident director, However, there is no limit on the appointment of additional directors regardless of their nationality.

At the same time the company receives at least one or more than 50 shareholders, who may be a natural person or legal entity.)
5. Send a startup documents and other documents to the Agency.

Singapore Employment Pass is the main type of Singapore work visa issued to foreign professional employees, managers, and owners/directors of Singapore companies. For more detailed information on various Employment Pass work permit type, refer to Singapore Employment Pass Application guide.